Shandong province continues to strengthen ties with countries involved in the Belt and Road Initiative (BRI). According to the latest data, Shandong's total trade with BRI countries reached 1.41 trillion yuan ($190 billion) in the first three quarters of this year, representing a 3.8 percent year-on-year increase and accounting for 56.8 percent of the province's total foreign trade. Exports to BRI countries grew by 8.8 percent to reach 789.82 billion yuan.

Shandong's trade with 92 BRI countries grew during this period, with significant increases in trade with major markets such as South Korea, Vietnam, and Singapore, which saw growth rates of 10.8 percent, 8.8 percent, and 40.4 percent, respectively.

The number of enterprises in Shandong engaged in trade with BRI countries increased by 3,948 over a year to bring the total to 52,400.

In July, August, and September, Shandong saw increases of 7.8 percent, 16 percent, and 20.2 percent in the import and export of railway transportation with BRI countries.

The Shandong China-Europe Railway Express Assembly Center was inaugurated on Sept 7 in Indjija, a town located some 50 km northwest of Belgrade, Serbia. This center is the first of its kind for Shandong in Central and Eastern Europe, while making Shandong the first Chinese province to establish such a hub in the region.

Intermediate goods accounted for 51 percent of Shandong's total exports to BRI countries, representing 56.7 percent of the province's total intermediate goods exports. Meanwhile, 70.5 percent of Shandong's total bulk commodity volume was imported from countries involved in the BRI.

Exports of high-tech products to BRI countries grew by 18.8 percent during this period, providing strong support for the industrial development and technological advancement of these countries.